There is a term known entrepreneurship that is slipping into everybody’s dictionary. It is the basis of starting a new venture, i.e. Startup Company. In layman language it can be defined as a business setup which will demand maximum hours for various functions like reaching maximum people, raising its market value but in the end, you will be the head of this company unlike any private sector or government job.
Startup Companies has many types, it is not mandatory that two startup companies’ strategies or profit will be the same. We will now focus on how to give a boost or growth to a startup company.
WAYS OF STARTING A STARTUP COMPANY:-
- Startup companies are itself full of risk and a person is always in a dilemma to start something because getting a stable ground will demand dedication and difficulty. Thus the first step is to start the business right away with an idea of output in terms of product. The right design and prototype are some of the basic things which should be ready for you when you focus on startup.
- Selling your product will define where the course of the startup is running. It is important to sell your product but it is even more important to be confident about your selling. For example, if you are planning to sell books but you are digging hard on places where people are not interested in reading then your startup will go crashing down. There are many examples of successful entrepreneurs who have not created any product, instead sell the things already available in other stores. For example, famous brands like pantaloons or reliance trends will sell the same outfit under its name in a mall earning double the profit.
- Another important point regarding startup is having someone to confide with. There will be many things which will be confusing by you and for those questions regarding reaching people; new logo design, market value, and amount to be put on expanding business will be answered by an advisor. In order to get these answers, you will have to hire a person like this and get his payment done by any method.
- Hiring workers is one of the most tedious jobs in the world because every worker’s nature and willingness will be different. Thus you need to find workers from a remote location so that the wages would be less. Another method is hiring workers on a contract basis. It is the most effective method as you get to utilize every worker’s talent in the most effective way.
- Having a co-founder is the most important thing in setting up a business. The government generally doesn’t fund an individual for a company, they assume that either you are too egoistic to have someone else or else you are not capable of convincing anyone on your side which gives a wrong impression because startup is all about persuading everybody to buy your own product but seeing many co-founders in a company guarantees them that the decision is not lame. For example, a startup with three co-founders will be needed in the case of a tie-breaker. It points out that the startup is an insecure hand as it will have a better decision-making process.
- There will be many aspects in which you will be lacking behind and for fulfilling those requirements, you need to have someone who urges on a daily basis for you to become better. For example Job, Steve’s in an interview said that someone expecting you to do a great job is the first step to becoming great. He got the brand of apple worldwide famous by pushing his people to the extreme condition of improving the product.
- Money also plays a vital role. On starting of your new venture don’t expect its funding to rise to the sky. Great things will take time if your product is quality reach it will surely reach the heights. But if your focus will be drifted towards money your project venture can go off track making the condition much worse. For example, the bloggers don’t earn much on the starting of their website but with time they earn according to the content like Najwa Zebian, R.H. Sin etc.
- Marketing is the most effective investment one can invest his time with. Selling your products on a social platform does increase your chance to be ahead in the race of Startup Company. For example, many clothing brands have attained limelight due to their Instagram pages. Try to remain in contact with those who are frequently using your products. Learn about the drawbacks so that you can come up with something better.
A startup needs passion, dedication, and utter enthusiasm to stand tall in the entrepreneurship.